Snapchat, the mobile messaging application raised about $486 million, according to a filing done very recently by the SEC. It says that over 23 investors joined the offering; however, it is unclear about the names of investors. The funding can bring about a lot of change in how Snapchat will compete with a lot of other messaging applications. As of now, they got a total funding worth $649 million dollars.
This is only about four months after they raised $ 20 million at a $ 10 billion valuation in August. Previous investments came from a lot of other conglomerates like Kleiner Perkins, Benchmark, as well as Gen Catalyst Partners. Although it is unconfirmed, there are analysts who report about the valuation of Snapchat being as much as $ 20 billion. If it is true, it could become one of the most valuable start-ups on the market. There is definitely a lot of hype about the company, and people use the application on a daily basis. This is actually the third most valuable start-up while the first two are Xiaomi and Uber.
Source: – Times of India